Huaxing Capital plans to apply to expand its existing license to digital asset business and increase investment in industry infrastructure, on-chain ecology and RWA.

According to PANews on August 1st, Hong Kong's Stablecoin Ordinance officially came into effect today. The Hong Kong Monetary Authority has established a six-month transition period and expects to issue the first stablecoin issuer license early next year. Huaxing Capital stated that the regulatory compliance of stablecoins will help attract more mainstream institutions and capital into the market. Shi Ziyuan, Head of Investment at Huaxing Capital, added that the company will focus on connecting Web 2.0 and Web 3.0, and plans to apply to expand its existing licenses (SFC Licenses 1, 4, and 9) to cover digital asset business. The company will also increase investment in industry infrastructure, on-chain ecosystems, and RWA assets to help Hong Kong become a global digital asset hub.

Previous news on June 26,